Egypt’s social protection package has been raised to EGP 635.9 billion for the fiscal year (FY) 2024/2025, up by 20% from the EGP 529.7 billion allocated for the current FY, Minister of Finance Mohamed Maait said.

The minister noted that EGP 134.2 billion has been allocated in the FY 2024/2025 budget to support food commodities, up 5.1% from EGP 127.7 billion in the current FY.

Moreover, EGP 154.5 billion has been dedicated to support petroleum products, compared to EGP 119.4 billion allotted for this FY, marking 29.4% year-on-year increase.

Furthermore, Maait announced an increase in support for social housing programs in the coming FY’s budget by 16.5% to EGP 11.9 billion, compared to EGP 10.2 billion in the current FY.

The budget also earmarks EGP 10.1 billion for citizens' medical treatment at the state's expense, up 24.7% from EGP 8.1 billion in the current FY.

Additionally, a sum of EGP 8.3 billion has been allocated for health insurance and medicines, compared to EGP 6 billion allotted for this FY, with an annual growth of 38.3%.

Maait pointed out that EGP 215 billion has been dedicated in the coming year’s budget to support social insurance, which would contribute to backing the pension system and implementing agreements to resolve conflicts despite the severity of global and regional challenges and their impact on public finances.

Furthermore, EGP 17.5 billion has been allocated in the new budget for the initiative supporting interest rates in credit facilities for industrial and agricultural production activities.

In addition, EGP 23 billion has been allotted to support and stimulate exports.


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